Pay it off every month... on a rare occasion I'll take advantage of 0% interest promo periods and carry a balance during the promotion because it's free use of someone else's money, but I'd always pay it off before I pay a dime of interest.

Pay it off every month... on a rare occasion I'll take advantage of 0% interest promo periods and carry a balance during the promotion because it's free use of someone else's money, but I'd always pay it off before I pay a dime of interest.

Pretty Smart.

I should do that. For example, my bill this month is like 8 grand...bought Plasma TV, piece of furniture, etc. If I could get 6 months at 0 percent APR and a 6 month CD @ 4.5 apr, i'd make $240 for doing nothing...

The only issue with this type of thing is if you carried over a large enough debt, it would start hitting your credit score...

Pay it off every month... on a rare occasion I'll take advantage of 0% interest promo periods and carry a balance during the promotion because it's free use of someone else's money, but I'd always pay it off before I pay a dime of interest.

Pay off your credit card debt and keep it paid off. Its one of the most liberating things you can do financially!

I use a card with a cash rebate feature, and pay off whatever I've charged every month. At the end of the year, I get a (whoo - hoo) 1% rebate.

Pay off your credit card debt and keep it paid off. Its one of the most liberating things you can do financially!

I use a card with a cash rebate feature, and pay off whatever I've charged every month. At the end of the year, I get a (whoo - hoo) 1% rebate.

I have the same deal - Citibank Dividend card, but you can cash out your rebate anytime they owe you more than $50. I use it for everything and pay it off... probably collected a good $350 of free money so far this year.

I used to be the credit card company's worst nightmare; I have very high available credit lines, but never carried a balance that would generate much interest income for them. For about 3 years straight, I would typically carry about $25-50k in credit card balances, but at 0% rates. Since it was short term money, I typically, just put it into money market funds (not the greatest return, but extremely low risk).

Until recently, the balance transfer fee was capped at $50-75, but I would usually net at least $2-3K in income. Now that many cards have adopted a straight 3% fee (no cap), I have reduced my balances to $0.

Credit card "debt" or cedit card "I have 0% APR so I might as well make them eat the interest" debt. I believe anyone who has actual debt and a luxury car needs to have their heads examined and re-evaluate their priorities.

Credit card "debt" or cedit card "I have 0% APR so I might as well make them eat the interest" debt. I believe anyone who has actual debt and a luxury car needs to have their heads examined and re-evaluate their priorities.

As one of the 0% promo rate users, I have to question your financial wisdom - if I can get a credit card company to give me money at 0%, why would I not use the credit and invest the money I would otherwise have spent in something with a higher rate of return, even if it's just a savings account? Same goes with student loans - I have student loans, but due the timing of my graduation from law school and a promo available at the time, those loans are locked in at 2% for the life of the loan. Obviously there is a psychological benefit to being completely debt free, but only an idiot would pay off loans locked at 2% for 25 years when you could invest that same money in the market, which in the long term returns on average 4-5 times as much.

Credit card "debt" or cedit card "I have 0% APR so I might as well make them eat the interest" debt. I believe anyone who has actual debt and a luxury car needs to have their heads examined and re-evaluate their priorities.

I agree, and to the above poster......I don't really consider CC debt "debt" if you're using a 0% balance and plan on paying it off. It's the people with 5k in CC debt that they can't afford to payoff and make minimum payments on each month and pay 700+ for a car.

I agree, and to the above poster......I don't really consider CC debt "debt" if you're using a 0% balance and plan on paying it off. It's the people with 5k in CC debt that they can't afford to payoff and make minimum payments on each month and pay 700+ for a car.

I agree completely with you on that example. Too bad our society and corporate America do everything in their power to encourage people to spend and live beyond their means. I see people here in LA especially that spend way more than they should on cars because of the "keep up with the neighbor" mentality.

I have the same deal - Citibank Dividend card, but you can cash out your rebate anytime they owe you more than $50. I use it for everything and pay it off... probably collected a good $350 of free money so far this year.

+1
Yea def. take advantage of reward programs. I have the same card you're talking about, but I mainly got it cos they were initially offering 3% or 5% back on gas!!! Unfortunately within a few months of opening that account they scaled that category back big time, I think maybe 1% now, so it's barely worth it for me.

I've been using Discover lately. I keep a Visa/MC as backup since not everyone accepts Discover, but I took advantage of the CircuitCity bonus when I bought my LCD tv and got an instant ~$200 cashback bonus. I can use it towards my balance or get extra rewards from tons of places. I used to go to Starbucks a lot - now I just order a rewards card for it and voila, I'm drinking coffee and not paying a dime for it Same with some restaurants.

If you got a CC that's not giving you anything back, switch to something that does.

+1
Yea def. take advantage of reward programs. I have the same card you're talking about, but I mainly got it cos they were initially offering 3% or 5% back on gas!!!

If you got a CC that's not giving you anything back, switch to something that does.

Yeah, I miss that 5% back on gas , when prices first jumped really high, that discount was awesome (17 cents per gallon if gas is $3.40!). I think it's still 2% on gas, but defintiely not quite the same.

Pay it off every month; but this past month I got hit with a speeding ticket and the court and attorney fees for fighting it, along with a weekend in Vegas. Still payed off my normal expenses, but the unexpected cost were transfered over to a card with 0% so I can pay it over a few months.